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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $167.74
- 6 Days on Market
- MLS # : 3689900
- Updated Date : 12/26/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,021 sqft
- Baths : 2 full
Listing Agent
Prostead Realty
Listing Agent's Description
Raintree is one of the most sought after neighborhoods in all of South Charlotte. Situated perfectly so you have easy access to all that South Charlotte has to offer - top rated schools, shopping, dining and easy access to 485, Providence Road and Hwy 51. Here is your chance to get into this amazing location at a reasonable price. This brick ranch is the perfect canvas to move right in and enjoy South Charlotte living or make a few updates to make this gem shine. This home features vaulted ceilings in the living room and kitchen, wood burning fireplace, HUGE owner's suite with custom bath, flat lot on an almost 1/2 acre and a 2 car detached garage. Plus, Raintree Country Club boasts 36 holes of golf, driving range, tennis courts and clubhouse. If you enjoy country club life this deal gets even sweeter because the initiation fees to the club are waived for Raintree residents. Hurry in and make this home yours before time runs out on 2020 and this amazing opportunity.
SEE MORE
- Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
- #1 Millenial Moving destination city (Smart Asset)
- Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
- #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
- Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
PRICE & RENT TRENDS
Neighborhood: Raintree
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Raintree
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$1,251 |
| Property Tax | -$296 | |
| Property Insurance | -$65 | |
| HOA | -$27 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$32
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$339,000
PROJECTED PRICE
$1,790
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$95,585
LOAN DETAILS
$1,251
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $84,750 |
| Loan Amount | $254,250 |
6.25
YEARS SAVED
$28,451
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,790
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,819
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
9107 Raintree Lane Charlotte, NC 2
- 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1982
- Rent
- Rent Per SQFT
- $1,790
- $0.89
-
4300 Kuykendall Road Charlotte, NC 1
- 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1956 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1956
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,695
- $0.84
-
8614 Golf Ridge Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1984
LEASED 04/17/20- Rent
- Rent Per SQFT
- $1,795
- $0.87
-
9000 Raintree Lane Charlotte, NC 4
- 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1973
LEASED 12/23/19- Rent
- Rent Per SQFT
- $1,800
- $0.91
-
9416 Whitethorn Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1977
LEASED 12/06/19- Rent
- Rent Per SQFT
- $2,000
- $0.98
PROPERTY LISTING DETAILS
1.828.319.7206
Prostead Realty
